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Payment Fraud

Detect and prevent a wide variety of payment fraud schemes (e.g. deposit fraud, on-us cheque fraud, cheque kiting) using cross-channel and cross-account analytics, monitoring internal and external users, and evaluating unusual patterns.

Anchor: Overview

The Challenge

Despite the declining cheque volumes in the banking industry, losses attributed to cheque fraud are still very significant. Fraudsters are using a variety of methods through multiple channels, using cutting-edge technologies.

Our Solution

Bottomline's payment fraud solution provides cross-channel analytics, which can be utilised for detecting a wide range of cheque fraud schemes including deposit fraud, on-us cheque fraud, and cheque kiting. The system tracks activity across multiple accounts of the same customer, and detects direct and indirect links between accounts and customers.

Anchor: Benefits

Benefits

  • Detect a wide variety of cheque fraud schemes including deposit fraud, on-us cheque fraud, and cheque kiting.
  • Track activity across multiple accounts of the same customer and detect direct and indirect links between accounts and customers.
  • Respond quickly to changing threats and new fraud scenarios.
  • Flag potentially fraudulent behaviour with real-time alerts, and use the case management system to track from issue identification to case resolution.
  • Improve investigator productivity and reduce total cost of ownership with a solution built on the Bottomline Cyber Fraud and Risk Management platform, which provides a wide range of anti-fraud and compliance solutions. Learn more about the Bottomline Cyber Fraud and Risk Management platformgement platform
50% of web app attacks leverage stolen credentials
Anchor: Functionality
70% of companies suffer from at least one type of fraud

Functionality

  • Profiles the activity of each account and customer, and detects deviations or suspicious activity.
  • Tracks activity across multiple accounts of the same customer and detects direct and indirect links between accounts and customers.
  • Uses predictive modelling to reduce false positives.
  • Provides comprehensive data for cheque fraud investigations. Collects data from various sources to create a single report containing all relevant data for investigations, including front and back cheque images that are relevant to the incident.
  • Provides a flexible, user-friendly rule engine and investigation centre. Enables corporate investigators to easily adjust scoring parameters, calculation methods, and thresholds.
  • Fully integrates the Bottomline enterprise case management solution and the payment fraud solution to create an effective, easy-to-use investigative environment.